LITTLE ROCK (AP) — A $4.7 billion state budget bill unveiled Friday would keep intact most of Gov. Mike Beebe’s proposed spending for the upcoming year, including boosts in funding for public schools and Medicaid.

A state lawmaker, however, said he’ll propose setting aside up to $100 million in surplus money to pay for a Medicaid shortfall that officials say could reach $400 million in 2013.

Legislative leaders said the Joint Budget Committee is expected to vote on the measure Monday. Votes in the House and Senate cleared the way for the bill to be drafted after Republicans who had been pushing for more spending cuts in the Democratic governor’s budget relented.

“I think generally we’ve got a good bill, and I think the support will be there,” said House Speaker Robert Moore, D-Arkansas City.

If approved by the committee, the bill would head toward votes in the House and Senate on Thursday. The measure, formally known as the Revenue Stabilization Act, is the funding mechanism for the state’s budget for the fiscal year that begins July 1.

Republicans are a minority in both chambers of the Legislature but hold enough votes to block the introduction of the budget bill. House Republicans had called for cutting spending at 11 agencies and changing the way Beebe’s proposed Medicaid increase would be funded. But the Democratic governor opposed most of their proposals.

House Minority Leader John Burris said he was not surprised by the legislation, which is nearly identical to the budget Beebe proposed in January.

“It’s disappointing because I think there was room for savings in the budget,” said Burris, R-Harrison.

The Department of Human Services on Thursday increased its estimate of the shortfall Medicaid faces for the budget year that begins July 1, 2013, from $250 million to as much as $400 million. That change has renewed interest among lawmakers in finding money for the shortfall.

Sen. Jonathan Dismang, R-Searcy, said he planned to propose changing the budget to set aside $40 million from the state’s surplus this year and up to $60 million from any surplus the state has next year to help with the Medicaid deficit.

“I definitely think we need to take a look at what we’re doing and make sure we prepare ourselves for the storm that’s obviously on the horizon,” Dismang told reporters.

Unlike the House Republicans’ plan, the measure wouldn’t change the additional money Beebe has proposed for Medicaid. Beebe rejected a proposal by the House GOP to use $14 million from the surplus to pay for part of his proposed increase and another $25 million for the 2013 shortfall.

Beebe said he’s skeptical about the latest figures from DHS and wants to review them more, but said the numbers reinforce his belief that using the surplus to pay for part of his proposal for the coming year’s Medicaid budget would only make the shortfall worse.

“If anything, this shows how foolish it would have been to adopt their proposal,” Beebe said. “It would have taken another chunk out of Medicaid, so if anything we would have used this argument even more.”

Beebe has said he’s not philosophically opposed to using the state’s surplus to help with the 2013 shortfall, but said that’s an issue the Legislature can address during the session that begins in January. The Legislature has been in an abbreviated fiscal session that began Feb. 13 intended to focus primarily on the budget.

“That money’s not going anywhere, and if the Legislature wants to do that we can still do that, but you do it in a regular session,” Beebe said.

The budget bill only requires a simple majority in both chambers of the Legislature. Legislative leaders say they want to end the session by March 2.